Pacquiao’s advisor, Michael Koncz, acknowledged that talks are taking place with Arum involving another fight for Pacquiao.

But Koncz would neither confirm nor deny if an April return was being considered for Pacquiao or if Marquez was the primary focus.

“Yes, Marquez is a possibility, but there are other fighters that are possibilities too. We’re negotiating, and if we can come to terms on the money, we’ll do it, and if not, then it’s up to Manny,” said Koncz.

“Nothing is definite. Manny hasn’t made his mind up when he’s going to fight or who he’s going to fight or where he’s going to fight. I’m in negotiations with Top Rank right now on Manny’s behalf, but we haven’t made any decisions yet.”

Marquez (55-6-1, 40 knockouts) had lost a majority decision to Pacquiao (54-5-2, 38 KOs) in November of 2011 after having fought to a draw and losing a split decision to the Filipino icon.

Marquez, who turns 40 in August, was dropped three times by Pacquiao, 34, in the first round of their initial meeting as featherweights in May of 2004, and once in the third round of their second as junior lightweights in March of 2008.

Marquez gained yet another shot at redemption when Pacquiao chose to face him over a rematch with Tim Bradley, whose disputed split-decision victory dethroned Pacquiao as WBO welterweight beltholder in June.

Like Arum, Beltran told RingTV.com that he felt their fifth bout would take place outside of the United States to avoid overbearing income tax issues on foreign fighters.

Last month, Arum mentioned Macau and Mexico City as well as a date in September, but Beltran feels Marquez’s hometown of Mexico City is the most feasible option.